Press release

Association of German Banks against two-class system of European banking supervision

17 August 2012 - Andreas Schmitz, President of the Association of German Banks, on the discussion about a European banking supervisor: “All financial institutions in the euro area should be subject to supervision by the ECB, regardless of their size. To do anything else would be to introduce a two-class system of European banking supervision. The same supervisory rules must apply to the same business, the same risks and to all market participants and these rules must, moreover, be applied in the same way. The crisis affecting Spanish savings banks has demonstrated once again that it’s impossible to predict which bank or group of banks may pose a threat to financial market stability. Nor should a distinction be made between allegedly systemically important and systemically unimportant institutions. This point notwithstanding, the principle of proportionality should naturally be applied when considering the interests of smaller banks. And it should also be possible for the ECB to involve national supervisors when exercising its supervisory role.”

Bundesverband deutscher Banken
Thomas Schlüter
Telefon +49 30 1663-1230
Telefax +49 30 1663-1272

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